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Dec 4, 2012
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how much of the special dividend is directly related to the fiscal cliff? >> i think the timing of it is 100%. >> you did it with cash rather than debt. money is cheap. why? >> well, we have cash. we have -- we run the company in an old-fashioned way especially after the great recession. about $100 million in cash we are maintaining. when the great recession hit us, it really hit us. but in the last two years we have been producing enough cash to pay almost $50 million of our debt, $38 million in capital expenditures and still maintain $100 million so from our perspective it was good for stockholders and good for the government. they're going to get taxes this year which they most probably wouldn't have gotten. >> let me raise another issue. it's good for shareholders, you say, and respectfully, let me push back that there are those who are looking at what larry ellison is pocketing, some $200 million off the special dividend and other dividend maneuvers that oracle is doing. he's going to take home $200 million. you own a lot of stock in the company. how w
how much of the special dividend is directly related to the fiscal cliff? >> i think the timing of it is 100%. >> you did it with cash rather than debt. money is cheap. why? >> well, we have cash. we have -- we run the company in an old-fashioned way especially after the great recession. about $100 million in cash we are maintaining. when the great recession hit us, it really hit us. but in the last two years we have been producing enough cash to pay almost $50 million of our...
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Nov 29, 2012
11/12
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plus we had the election and fiscal cliff oncoming. with that, we still got over 2% growth. so even with some kind of drag from higher taxes and spending into next year, without a lot of those -- those severe head winds, you know, i just don't see how with a global -- coordinated global monetary easing policy from the central banks, how you're going to have a worser economy next year and therefore lower profits. >> joe? or josh? >> hi, tony. josh brown. i'm just curious, if you took a look at that gdp third quarter revision from this morning, one of the things i think jumped out most is that really all of the improvement comes as a result of both federal spending and then the other thing -- then the other thing that people don't want to see which is a lot of inventory restocking which i understand is seasonal. but now that's on the backs of the consumers, actually, taking those products out of stores to their homes. are we really going to be able to say that that was a good upward revision? even though the number went up? >> no. frankly, the market would have already priced
plus we had the election and fiscal cliff oncoming. with that, we still got over 2% growth. so even with some kind of drag from higher taxes and spending into next year, without a lot of those -- those severe head winds, you know, i just don't see how with a global -- coordinated global monetary easing policy from the central banks, how you're going to have a worser economy next year and therefore lower profits. >> joe? or josh? >> hi, tony. josh brown. i'm just curious, if you took...
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Nov 30, 2012
11/12
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lawmakers now admit they made no real progress on the compromise to avoid the fiscal cliff. republicans are rejecting president obama's proposal which includes $1.6 trillion tax hike. $50 billion economic stimulus package and -- new power to increase the debt ceiling without congressional approval. all of that sounds like a winner. the offer featured higher tax rates for households making more than $250,000 a year. no surprise there. one-year postponement of the sequester and about $400 billion in savings over ten years from medicare and other entitlement programs. they did do something. we will come back. german parliament has given its approval to the greek debt deal approved by european finance ministers earlier this week. that means greece can receive -- euros in rescue loans. and zynga shares getting slammed in pre-market trading. new agreement with facebook removes zynga's special status and let's facebook develop its own games which it could not do under the old agreement. where are the markets? i have a nice thing there. the markets are -- looks like we are up on the
lawmakers now admit they made no real progress on the compromise to avoid the fiscal cliff. republicans are rejecting president obama's proposal which includes $1.6 trillion tax hike. $50 billion economic stimulus package and -- new power to increase the debt ceiling without congressional approval. all of that sounds like a winner. the offer featured higher tax rates for households making more than $250,000 a year. no surprise there. one-year postponement of the sequester and about $400 billion...
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Dec 7, 2012
12/12
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we've got to address the cliff. we've got to raise the debt ceiling. and most importantly, we need long-term deficit reduction to get the fiscal sustainability. so, they've got a lot more to do than simply working on the -- >> i agree with that. in fact, the way i put it which is what i meant which is the resolution of the cliff. but i don't think the cliff gets resolved until we resolve the tax rate issue and then the other parts can follow. >> that makes sense. >> there's an editorial, op-ed in "the times" today that says do you know what, it's an aging society. that aging society means higher payments out to the wealthy -- to the elderly from the government. higher medicare spending, higher retirement spending, and especially something we have to get used to and we're going to have to bump up the share of the economy, that is, from the government because that's the way we're going to have to live if we want to take care of the elderly. mark, is that a reality? does that mean higher -- i'm sorry, lower long-term growth rates for the economy? >> well,
we've got to address the cliff. we've got to raise the debt ceiling. and most importantly, we need long-term deficit reduction to get the fiscal sustainability. so, they've got a lot more to do than simply working on the -- >> i agree with that. in fact, the way i put it which is what i meant which is the resolution of the cliff. but i don't think the cliff gets resolved until we resolve the tax rate issue and then the other parts can follow. >> that makes sense. >> there's an...
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Dec 6, 2012
12/12
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the fiscal cliff, the chairman and vice chairman will join us first on "squawk" to talk about the debt negotiations. at 8:30 eastern the weekly job numbers. and a disruptor, applico founder and ceo alex moazed will join us at the bottom of the hour. becky if you interview him it's moazed so if it's wrong stick with that so no one will know. we shed $35 million of market as well mopping the reasons cited by analysts a forecast by an influential research firm suggesting the iphone iphone is giving up to google's headlines. apple accounts for the entirely of the mass dnasdaq's fall of 1. apple is enjoying its best day since early last week. didn't close on its highs but equities up 8% points or so. futures back in positive territory, up 15 and down and up five or so. everybody's watching what's going on in d.c. overnight in asia it was mixed but not big moves sni where, japan had a good day and in europe we have green roar rows yesterday morning which pour tended good things for us here, germany doing the best. >> as expect the bank of england and european central banks left their ratings
the fiscal cliff, the chairman and vice chairman will join us first on "squawk" to talk about the debt negotiations. at 8:30 eastern the weekly job numbers. and a disruptor, applico founder and ceo alex moazed will join us at the bottom of the hour. becky if you interview him it's moazed so if it's wrong stick with that so no one will know. we shed $35 million of market as well mopping the reasons cited by analysts a forecast by an influential research firm suggesting the iphone...
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Dec 5, 2012
12/12
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having an agreement to avoid the debt, the fiscal cliff, and then having a down payment on actually getting the $4 trillion identified. >> howard dean is a deficit hawk. liberal, but he is a deficit hawk. he doesn't say maybe if we can't get a deal together, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last thing we need if you run a company. i understand you have a horse in the game. >> but you also have the double trigger. if you go over the cliff, we've got the debt ceiling fight right afterwards. it's not like that's six month
having an agreement to avoid the debt, the fiscal cliff, and then having a down payment on actually getting the $4 trillion identified. >> howard dean is a deficit hawk. liberal, but he is a deficit hawk. he doesn't say maybe if we can't get a deal together, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax...
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Dec 3, 2012
12/12
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>> or that there might be a deal on the horz ton avoid the fiscal cliff, the fact that the republicans put out an offer, like their old offer before the president won re-election, it does feel like the two sides are talking, but they appear to be talking past each other. the clock is ticking in washington. ticking against a dealing. i think the two sides seem to hate each other more than ever. i don't now, it seems like the last 72 hours i was hoping it was going to get better and it seems like it got worse. i spent a ton of time this weekend hanging with old college chum, grover norquist. he's as certain as ever that republicans who have impure thoughts about violating his no new tax pledge will be targeted at the primary level by tea party members. i'm taking this masterful behind-the-scenes player at his word that he controls almost all the republicans. because almost all of them signed his oath. so a deal could be tough. plus i'm now calling for no vacation without legislation. no vacation without legislation. because the holidays are slated to begin in a couple of weeks. which doe
>> or that there might be a deal on the horz ton avoid the fiscal cliff, the fact that the republicans put out an offer, like their old offer before the president won re-election, it does feel like the two sides are talking, but they appear to be talking past each other. the clock is ticking in washington. ticking against a dealing. i think the two sides seem to hate each other more than ever. i don't now, it seems like the last 72 hours i was hoping it was going to get better and it...
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Nov 29, 2012
11/12
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. >> so what are you doing about the fiscal cliff? >> we think it's actually a good thing because it's addressing something in our country that's gotten out of control. step back the last five years, september 2007, we crossed $9 trillion in debt. thousand we're at $16.2 trillion to $16.3 trillion four years later. five years later. deficits of 1.25 trillion for the last five years. so we have a problem in our country that really needs to be resolved. we've become addicted to stimulus really through deficit spending, through 0% interest rates. >> how are you investing around this? >> we're comfortable investing in corporate bonds. bond spreads have tightened, but investors still being paid on a reasonable basis. we have structured products like clos. >> do you care if we go over the cliff? >> it's a concern, but i think it's actually not that much of a concern to me, no. >> so it's okay? >> we look at the fundamentals of companies when we invest and the fundamentals of companies are very strong. probably will affect the stock market m
. >> so what are you doing about the fiscal cliff? >> we think it's actually a good thing because it's addressing something in our country that's gotten out of control. step back the last five years, september 2007, we crossed $9 trillion in debt. thousand we're at $16.2 trillion to $16.3 trillion four years later. five years later. deficits of 1.25 trillion for the last five years. so we have a problem in our country that really needs to be resolved. we've become addicted to...
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house speaker boehner said that will be a debating point in the debt ceiling and in the fiscal cliff when it comes to that. ashley: certainly will. milton ms. rought at this, thanks for being with us for your perspective on the market when we see what happens in washington. thanks so much. >> thank you. tracy: he is oozing confidence in washington, isn't he? ashley: yes. dripping with sarcasm i think is more --. tracy: sham else about. i love that word. it's a shambles. there is so much more ahead this hour including a biotech ceo what is hurting innovation in the sector. you guessed it, obamacare. a corda's ron cohen is here. ashley: apple making lots of news with its stock swings. reports it is shifting production away from china back to the u.s. as we do this time every day, look how oil is trading. down nearly 2%. bun a buck 73 at 86.15 a barrel. we'd be right back there is no mass-produced human. every human being is unique. and there is one store tha. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclus
house speaker boehner said that will be a debating point in the debt ceiling and in the fiscal cliff when it comes to that. ashley: certainly will. milton ms. rought at this, thanks for being with us for your perspective on the market when we see what happens in washington. thanks so much. >> thank you. tracy: he is oozing confidence in washington, isn't he? ashley: yes. dripping with sarcasm i think is more --. tracy: sham else about. i love that word. it's a shambles. there is so much...
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Nov 30, 2012
11/12
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if you are sick of all this fiscal cliff talk. wayne rogers is also. wayne has the answer to all of our debt problems. he is coming up a little bit later on. first, speaking of markets, let's take a look at current fees and how are faring against the u.s. dollar. ♪ ♪ [ engine vs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz deer. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >> 521 minutes past the hour, i have your fox ne
if you are sick of all this fiscal cliff talk. wayne rogers is also. wayne has the answer to all of our debt problems. he is coming up a little bit later on. first, speaking of markets, let's take a look at current fees and how are faring against the u.s. dollar. ♪ ♪ [ engine vs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250...
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Dec 4, 2012
12/12
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if i'm not wrong, this so-called fiscal cliff was created by legislation that was passed as a result of the debt crisis a couple of years ago. >> stephanie: that's right. >> caller: this is where obama snookered the republican party. >> stephanie: yeah. >> they agreed to this. >> stephanie: we said that at the time and we still got downgraded because of the republicans, but you are absolutely right. >> caller: yes and grover norquist on sunday on david marshmallow's show, said that obama was going to take us over the fiscal cliff. >> stephanie: yes, and it is because of republicans. you know what the funny names for republicans, just leave that to us. [ bell chimes ] [ applause ] >> stephanie: david marshmallow. yeah. hi, bob. >> caller: good morning. i just wanted to call about the bob costas thing and just say i started shooting when i was ten year's old, and i still believe there is a place for regulation in gun control. >> stephanie: uh-huh. >> caller: and i think the people that shout the loudest don't speak for even the majority of gun owners and i think there is this trained p
if i'm not wrong, this so-called fiscal cliff was created by legislation that was passed as a result of the debt crisis a couple of years ago. >> stephanie: that's right. >> caller: this is where obama snookered the republican party. >> stephanie: yeah. >> they agreed to this. >> stephanie: we said that at the time and we still got downgraded because of the republicans, but you are absolutely right. >> caller: yes and grover norquist on sunday on david...
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Nov 29, 2012
11/12
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>> i think if we sort of look beyond the fiscal cliff we get beyond this, we've got some results. not just a short-term fix but the actual grand bargain that comes with trying to figure out how we'll work on our long-term issues of debt. i think the dow could pop 1,000 points. i think we need to go from something like a 12 multiple where we're trading now to something like a 15 multiple which i would make a whole lot more sense on forward earning estimates. we're nowhere close to that. i think the market is a bit of a coiled spring here but we have a couple major issues to deal with. one is the short term and one is the medium term. we may not get that medium term issue settled out noo until a couple of months into '13. we have a bumpy road in front of us but i certainly think there's some markets to be had and we should keep a close eye on that and get our shopping list ready. >> art, back to the point about special dividend and the reason so many companies are giving them out at the moment, warren buffett was on cnbc earlier this week and he said you really should not be investi
>> i think if we sort of look beyond the fiscal cliff we get beyond this, we've got some results. not just a short-term fix but the actual grand bargain that comes with trying to figure out how we'll work on our long-term issues of debt. i think the dow could pop 1,000 points. i think we need to go from something like a 12 multiple where we're trading now to something like a 15 multiple which i would make a whole lot more sense on forward earning estimates. we're nowhere close to that. i...
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Nov 30, 2012
11/12
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insist any fiscal cliff deal includes a raising of the debt ceiling or they're going to say, we want the power to raise the debt ceiling. you know, i think that might actually end up being a big sticking point of the negotiation. >> understandably they see it as the biggest point of leverage. >> it also seems to me the tone is moving in the wrong direction. after the -- right after the election, there was a little bit of recrimination, a little like well, boehner sounded getting squishy and what's happened over the succession of weeks since then, as he's meeting with the caucus, there's a hardening. in terms of -- >> or a disbelief -- a disbelief -- >> comes out and says stuff like that, you read some of the local papers, these people rshs it. >> are telling their local paper we're in a bad negotiation position here. >> the problem is, had he's probably a guy that's going to -- boehner will still be dealing with after january 3rd. in the lame duck congress it's still the same congress and boehner still has to message to those people because he still has to gets the gavel back in janu
insist any fiscal cliff deal includes a raising of the debt ceiling or they're going to say, we want the power to raise the debt ceiling. you know, i think that might actually end up being a big sticking point of the negotiation. >> understandably they see it as the biggest point of leverage. >> it also seems to me the tone is moving in the wrong direction. after the -- right after the election, there was a little bit of recrimination, a little like well, boehner sounded getting...
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so while we're stuck on thinking about tax rates increases versus revenue, this fiscal cliff issue much larger. talks about the debt ceiling and what that means for next year. treasury saying that sometime early next year they will run out of those extraordinary measures and the u.s. will have to raise the debt ceiling or default. back to you. ashley: very good point. rich edson in d.c. thanks very much. tracy: our next guest says, forget taxes. washington needs to focus on cutting entitlement spending if we want to prevent a battle between old and young americans. diana further got roth, senior fellow at man hat taken institute and joins us now. diana, seems to me raising the retirement age is the simplest thing you could do yet we're not talking about that. >> well, we certainly should be because part of the deficit problem, a great part, is entitlements, social security and medicare, keep adding fiscal burdens as people's live expectancy increases and it's great that people are living longer but when social security was first thought of the life expectancy was only 67. now it is arou
so while we're stuck on thinking about tax rates increases versus revenue, this fiscal cliff issue much larger. talks about the debt ceiling and what that means for next year. treasury saying that sometime early next year they will run out of those extraordinary measures and the u.s. will have to raise the debt ceiling or default. back to you. ashley: very good point. rich edson in d.c. thanks very much. tracy: our next guest says, forget taxes. washington needs to focus on cutting entitlement...
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Nov 29, 2012
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medicare, medicaid, social security, don't have anything to do with the fiscal cliff and neither does the debt ceiling. this is strictly a matter of statutory provisions that go into effect on january 1st, but they want to burden up this and muddy the water to basically, i think, to refuse to do a deal. >> right. because over in the senate, as i was saying, mitch mcconnell is refusing to even consider the president's proposal to maintain the bush tax cuts for those earning less than $250,000 a year, but to raise taxes on those earning more. now, today short of a sol solution, he offered a series of ideological insults. >> only reasons democrats are insisting on raising rates is because raising rates on the so-called rich is the holy grail of liberalism. their aim isn't job creation. they're interested in wealth destruction. >> sir, can you explain what mr. mcconnell is doing resorting to rants about the holy grail of liberalism when every poll since the election shows that a majority of americans believe support taxes going up on the wealthy for the good of the country. >> mitch is no
medicare, medicaid, social security, don't have anything to do with the fiscal cliff and neither does the debt ceiling. this is strictly a matter of statutory provisions that go into effect on january 1st, but they want to burden up this and muddy the water to basically, i think, to refuse to do a deal. >> right. because over in the senate, as i was saying, mitch mcconnell is refusing to even consider the president's proposal to maintain the bush tax cuts for those earning less than...
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Nov 29, 2012
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standoff on the fiscal cliff. both side say the other needs to get serious about making a deal. the question is who will flinch first? tracy: former senator and debt reduction task force co-chair pete domenici is here. stocks twisting and turning on every word out of washington. we'll hear from a top strategist to protect your investments amid all the volatility. ashley: a trillion dollar problem getting enough attention. american student loan debt surging now topping credit cards and auto loans. tracy: we'll. ashley: we'll have you will the very pering numbers ahead. tracy: after all that i said senator domenici's name wrong. nicole petallides is on the floor of new york stock exchange. nicole, stocks trying to hold onto this 50 point gain here. >> we're actually moving higher now. we're moving close to highs of the day. we sold off early on coming off heels of yesterday where a lot of folks were concerned about some comments from the prior day. we had harry reid and boehner gave us a boost yesterday. today we sold off and moved back and forth. we've been over the unchanged lin
standoff on the fiscal cliff. both side say the other needs to get serious about making a deal. the question is who will flinch first? tracy: former senator and debt reduction task force co-chair pete domenici is here. stocks twisting and turning on every word out of washington. we'll hear from a top strategist to protect your investments amid all the volatility. ashley: a trillion dollar problem getting enough attention. american student loan debt surging now topping credit cards and auto...
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Dec 5, 2012
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here we go with the fiscal cliff and the debt and now they vote down the disabilities act right in front of bob dole in a real wheelchair. we're just like wow. >> absolutely. if anyone wants to make a music video using this song as the background alluding to all of that stuff you're talking about you know, i'm not going to say no. >> stephanie: there you go. >> i can't speak for viacom's lawyers. >> stephanie: no. >> but i'm not going to say no. >> stephanie: here's a fun fact. co-wrote ten of the album songs. who is so handsome and rowic and talented. >> thank you. >> don't be a jerk dates from 2009. the joe wilson thing was happening. it just seemed like rudeness and you know, the lack of manners and civil discourses breaking down. you know, my cowriter, andy and i came up with this phrase, how about a song don't be a jerk, it's christmas. it wasn't jerk as you know, stephanie. it begins with a d and ends with a k and ends with flick but -- >> stephanie: yes. >> three years later, it is a whole spongebob christmas album where we have a whole bunch of other songs. one done in street cor
here we go with the fiscal cliff and the debt and now they vote down the disabilities act right in front of bob dole in a real wheelchair. we're just like wow. >> absolutely. if anyone wants to make a music video using this song as the background alluding to all of that stuff you're talking about you know, i'm not going to say no. >> stephanie: there you go. >> i can't speak for viacom's lawyers. >> stephanie: no. >> but i'm not going to say no. >> stephanie:...
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Dec 7, 2012
12/12
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not limited to just worry about the debt and fiscal cliff and such. our program today just loosely, i'm welcoming you, obviously, joan walker's going the talk, ed reilly of sgi is going the give the polling results, and then ron brownstein of national journal is going to do our interview, and then we're going to have a panel discussion. so it's going to be a full and absolutely terrific day, i think. please, turn these babies off. and, again, welcome you. let me introduce joan walker. joan is executive vice president of allstate which is one of the country's largest insurance, we're in good hands with allstate, we all grew up with that. joan has been a terrific partner, in the last four years she's responsible for all corporate relations with allstate. prior to joining that company in 2005, she did similar work with monsanto and qwest. she is a consummate marketing and communications strategist which, of course, in this town of washington is really all about. so, joan, thank you very much, and we want to welcome our friends here. [applause] >> good mo
not limited to just worry about the debt and fiscal cliff and such. our program today just loosely, i'm welcoming you, obviously, joan walker's going the talk, ed reilly of sgi is going the give the polling results, and then ron brownstein of national journal is going to do our interview, and then we're going to have a panel discussion. so it's going to be a full and absolutely terrific day, i think. please, turn these babies off. and, again, welcome you. let me introduce joan walker. joan is...
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Dec 6, 2012
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and then the fiscal cliff blame game, new data on who americans blame for the gridlock in washington plus is congressional leadership holding up negotiations in d.c.? former senator, co-chair of the campaign to fix the debt judd gregg is here with his take on that. the death cross is on for what was once the favorite name apple, shares rebounding back to 547. is this finally the opportunity to get in? alex gauna is an analyst with jmp securities. good to have you with us. >> good morning, thank you. >> a lot of discussion how technically some defenders say apple is exacting exactly as it should. do you see it that way? >> technically i think the dangerous thing is this stock forms a head and shoulders and i don't know where the support comes in, somewhere in the 400s. that's a key risk to the stock. i focus on the fundamentals. it's worrisome in the near term for apple. when there's a lot behind that, the relationship with samsung the frenemy relationship has gone to enemy. also the closing competitive gap between apple and rival products out there, so many of those that have subsidi
and then the fiscal cliff blame game, new data on who americans blame for the gridlock in washington plus is congressional leadership holding up negotiations in d.c.? former senator, co-chair of the campaign to fix the debt judd gregg is here with his take on that. the death cross is on for what was once the favorite name apple, shares rebounding back to 547. is this finally the opportunity to get in? alex gauna is an analyst with jmp securities. good to have you with us. >> good morning,...
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Dec 1, 2012
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the president has an obligation to steer us away from the fiscal cliff and to tackle our $16 trillion debt that is driven by runaway entitlement programs. we have seen an utter lack of leadership from president obama and his allies on the left have shown very little to no willingness to tackle real structural entitlement reform. there is no manner of tax hike that can save medicare or medicaid. these programs can only be fixed with real reforms. some on the left say tinkering around the edges of medicare and medicaid would be enough, or that the healthcare law is entitlement reform. they argue we do not need to examine the structural problems. make no mistake about it. shoring up medicare and medicaid will not be easy. the situation has become so severe, it is the only responsible course to take. in just over a decade medicare will be bankrupt. medicare beneficiaries receive $3 in benefits for every $1 they pay into the system. that is while 10,000 more americans join this program every day. the number of workers supporting it has declined by over 18% over the last decade. the average
the president has an obligation to steer us away from the fiscal cliff and to tackle our $16 trillion debt that is driven by runaway entitlement programs. we have seen an utter lack of leadership from president obama and his allies on the left have shown very little to no willingness to tackle real structural entitlement reform. there is no manner of tax hike that can save medicare or medicaid. these programs can only be fixed with real reforms. some on the left say tinkering around the edges...
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Nov 30, 2012
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we've got the real problem out there, we've got the fiscal cliff, yes, that's interesting but what is really concerning is hitting that debt ceiling which will probably happen sometime around february. we all remember what that was like in august of 2011 and this group seems to be even less willing to work together now than they were in august of 2011 which really lock rocked markets all over the world. david: the question how do we keep our money safe and you actually have a couple of suggestions one which we already talked about. china, yes it has sloane down and as a result a lot of its market valuations have come down but perhaps if europe is not doing it right, if we're not doing it right with regard to growth straygy perhaps china will. you have fax, aberdeen asia-pacific fund? >> yes. in a bit of irony things really evolved in the markets where you used to have developed economies were great stable economies with good financials. emerging companies have much better looking balance sheets. fax has a great track record over any three-year period. they have never lost money but we
we've got the real problem out there, we've got the fiscal cliff, yes, that's interesting but what is really concerning is hitting that debt ceiling which will probably happen sometime around february. we all remember what that was like in august of 2011 and this group seems to be even less willing to work together now than they were in august of 2011 which really lock rocked markets all over the world. david: the question how do we keep our money safe and you actually have a couple of...
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cliff. every hour is ticking by, every day is ticking by. >> i think when this gets played out at the end, they'll get right up to cliff on new year's eve, we'll all be hugging cliff and giving cliff a kiss on the cheek. >> from the capitol to the white house, get who is coming to lunch. mr. romney goes to washington. he'll dine today at 1600 pennsylvania avenue at the invitation of the president himself. the question, is there a grander purpose behind their lunch date. >> is governor romney here tomorrow in some kind of cabinet level position, an audition for that position? >> no. >> so joining me now from the white house is kristen welker. so romney's people, however, they're not backing off controversial suggestions about how the president won re-election. romney chief strategist sue teachs explains romney lost essentially by suggesting that the president was black and that poor people voted overwhelmingly for him, not exactly a positive tone ahead of this luncheon. we all know that there
cliff. every hour is ticking by, every day is ticking by. >> i think when this gets played out at the end, they'll get right up to cliff on new year's eve, we'll all be hugging cliff and giving cliff a kiss on the cheek. >> from the capitol to the white house, get who is coming to lunch. mr. romney goes to washington. he'll dine today at 1600 pennsylvania avenue at the invitation of the president himself. the question, is there a grander purpose behind their lunch date. >> is...
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not just the fiscal cliff, it was time after time, the start of the debt ceiling talks and then they get pushed off, these are temporary fixes and it keeps coming. >> i guess one of the things that we kind of focus on is what happens after the fiscal cliff. because that just maybe gets you over the hump. this may be just a temporary fix to give them time to work out in 2013 perhaps a bigger deal, a grand bargain. but what does grand bargain mean. if you were able to cobble together a bigger deal, but a lot of people worry that's fiscal drag. and that will mean that as we move into '14, '15, growth will be a lot softer. >> you have to get confidence because. because if the consumer doesn't have confidence going into christmas and next year and saying i don't know what's going on, right now that's holding up our economy. two-thirds of our economy is driven by the consumer actually starting to spend. business is dragging. you will see a multiplier effect on the negative side and 2014 will look worse because people won't travel, they won't buy. all advertising, you can just look at kind
not just the fiscal cliff, it was time after time, the start of the debt ceiling talks and then they get pushed off, these are temporary fixes and it keeps coming. >> i guess one of the things that we kind of focus on is what happens after the fiscal cliff. because that just maybe gets you over the hump. this may be just a temporary fix to give them time to work out in 2013 perhaps a bigger deal, a grand bargain. but what does grand bargain mean. if you were able to cobble together a...
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solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. for the good of our country and my colleagues, we're ready to work with the president to achieve those goals. >> on the issue of tax rates, are you willing to accept no deal that includes some increase in those top tax rates? i'm also wondering, what the final deadline is? when do you really have to have a deal or framework? >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table, but revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy, pure and simple. secondly, listen. the american people expect us to find common ground to work together and to resolve this. frankly, sooner is better than later. [ inaudible question ] >> -- is this the necessary public posturing that needs to go
solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. for the good of our country and my colleagues, we're ready to work with the president to achieve those goals. >> on the issue of tax rates, are you willing to accept no deal that includes some increase in those top tax rates? i'm also wondering, what the final deadline is? when do you really have to have a deal or...
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to raise the nation's borrowing limit would have to be matched by spending cuts in the fiscal cliff deal. >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> asking that a political price be paid in order for congress to do its job to ensure that the united states of america pays its bills and does not default for the first time in its history is deeply irresponsible. it was deeply irresponsible in the summer of 2011, and it would be deeply irresponsible if we were to see that kind of approach taken again. >> with boehner calling on the white house to lay out specific spending cuts, senate majority leader harry reid offered his own response to the house speaker. >> he says that democrats have got to get serious about cuts, spending cuts. where's the disconnect, then? >> i don't understand his brain, so you should ask him. okay? >> huh. don't understand his
to raise the nation's borrowing limit would have to be matched by spending cuts in the fiscal cliff deal. >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> asking that a political price be paid in order for congress to do its job to ensure that the united...
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fiscal cliff negotiations, they're really focused on fixing the debt. how can you fix the debt if you can't fix the economy? if you can't fix the jobs situation? >> oh, boy, this is the magic question this is why people like paulfreaking out and going, wait a minute, we go over the fiscal cliff, it is austerity, it is bad for job creation and that could be a problem. the bigger issue i think in the long-term unemployment problem is we never really dealt with it from the beginning of the jobs crisis. so 12 million people out of work, 40% of them, more than six months, that's insane. but we have not had a real program to get those long-term unemployed back to work. and, you know, frankly, i don't see anything happening in the future. as we look at that fiscal cliff, what does that really do? it says government is going to spend less money, less money means less job training, less ways to get the unemployed back to work. that really says that we're probably going to be stuck with an unemployment problem for a long time. >> so avoiding a fiscal cliff doesn'
fiscal cliff negotiations, they're really focused on fixing the debt. how can you fix the debt if you can't fix the economy? if you can't fix the jobs situation? >> oh, boy, this is the magic question this is why people like paulfreaking out and going, wait a minute, we go over the fiscal cliff, it is austerity, it is bad for job creation and that could be a problem. the bigger issue i think in the long-term unemployment problem is we never really dealt with it from the beginning of the...
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. >>> it may be the republicans biggest weapon in the fiscal cliff debate and democrats are trying to remove it permanently. this week, treasury secretary timothy geithner took a proposal to gop leaders that significantly restrict congress' authority over the debt limit. house speaker john boehner pushing back maintaining a debt ceiling increase would need to be matched by spending cuts. >> if we're going to talk about the debt limit in this, then, there's going to be some price tag associated with it. i continue to believe that any increase in the debt limit has to be aacademied by spending reductions that meet or exceed it. >> joining me now, political anchor "new york one news" and co-editor of "scandals, tragedies and trumps triumphs." senior ederter for politics and news at yahoo! news. she has become a weekend pal. thanks for being back with us, both of you. let's start with the debt limit, we're talking about the debt limit, again. do republicans believe this is their ace in the hole? >> i sure hope they don't. i think the president has the stronger hand on this. number one, he
. >>> it may be the republicans biggest weapon in the fiscal cliff debate and democrats are trying to remove it permanently. this week, treasury secretary timothy geithner took a proposal to gop leaders that significantly restrict congress' authority over the debt limit. house speaker john boehner pushing back maintaining a debt ceiling increase would need to be matched by spending cuts. >> if we're going to talk about the debt limit in this, then, there's going to be some price...
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solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. for the country and my colleagues, we're ready to work with the president to achieve those goals. >> mr. speaker, a couple things. first, on the issue of tax rate, are you willing to accept no deal that includes some increase in those top tax rates? i'm also wondering what are final deadline on this is? how much longer can this back and forth go? when do we have to have a deal -- >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table. revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy. pure and simple. secondly, the american people expect us to find common ground, to work together and to resolve this. frankly, sooner is better than later. >> you've been doing this for a long ti
solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. for the country and my colleagues, we're ready to work with the president to achieve those goals. >> mr. speaker, a couple things. first, on the issue of tax rate, are you willing to accept no deal that includes some increase in those top tax rates? i'm also wondering what are final deadline on this is? how much longer can...
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solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. and for the unity of our country and my colleagues, we're ready to work with the president to achieve those goals. >> reporter: on the issue of tax cuts, are you willing to accept -- [inaudible] what's our final deadline on -- [inaudible] >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table, but revenues that come from closing loopholes, getting rid of special interest deductions and not raising rates. we think it's better for the economy, pure and simple. and secondly, listen, the american people expect us to find common ground, to work together and to resolve this. and, frankly, sooner is better than later. >> [inaudible] >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. if you've watched me over the last three weeks, i'v
solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. and for the unity of our country and my colleagues, we're ready to work with the president to achieve those goals. >> reporter: on the issue of tax cuts, are you willing to accept -- [inaudible] what's our final deadline on -- [inaudible] >> increasing tax rates draws money away from our economy that needs to be...
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ceiling or -- and on the fiscal cliff? forget it. >> it was remarkable to see how this happened yesterday. i will read from john stanton's twitter feed our friend from business feed. i was there -- buzzfeed. his presence could push it over the edge. dole was there watching them vote. after he left the floor, he said the republicans very quietly got up, didn't vote from their desk. they got up quietly walked up to vote. he said that was remarkable because nobody wants that video in a commercial of them voting against bob dole, against people with disabilities. >> yeah, senator moran now, i forget his first name from texas who, i'm sorry from kansas jerry moran of kansas. i think he has the bob dole seat. he put out a press release with john mccain praising the treaty when it was first brought to the senate. he voted against it yesterday. these guys are courts and mean and they don't care. they don't care about the disabled either. my point is, again, this is the gang that the president has got to do business with. forget it
ceiling or -- and on the fiscal cliff? forget it. >> it was remarkable to see how this happened yesterday. i will read from john stanton's twitter feed our friend from business feed. i was there -- buzzfeed. his presence could push it over the edge. dole was there watching them vote. after he left the floor, he said the republicans very quietly got up, didn't vote from their desk. they got up quietly walked up to vote. he said that was remarkable because nobody wants that video in a...
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you know, the big picture is more than just the fiscal cliff. and a lot bigger than do we raise taxes on people who are there to make more than $250,000 a year. this is about the debt. it's about the fiscal deficit. it's about our economy. it's about our future. it's about our children. and president obama is playing a very risky game. because in the end, this is his presidency. and you're going to look back and have a bar chart of deficits and debt. and there's not going to be an asterisk that says it was the republicans' fault. i think we've got to stop playing poker, work together and understand we're working to save the country. >> that might be the long game. the asterisk in history books later. right? the short gain is raising taxes. that really is what everything is focused on right now. and i think, nan, it's fair to say that could be a big problem for republicans. all polls indicate that it's going to be the republicans that hold the bag if you end up not raises taxes on people who are perceived to be very wealthy who could afford it. >
you know, the big picture is more than just the fiscal cliff. and a lot bigger than do we raise taxes on people who are there to make more than $250,000 a year. this is about the debt. it's about the fiscal deficit. it's about our economy. it's about our future. it's about our children. and president obama is playing a very risky game. because in the end, this is his presidency. and you're going to look back and have a bar chart of deficits and debt. and there's not going to be an asterisk that...
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well, i might remind people that the fiscal cliff was gone over in august of 2011. . some have already forgotten. we were told if we didn't have a debt ceiling increase by august 2 we were going over the financial cliff, it was financial armageddon. everything would melt down. it was all going to be just this horrible financial malay. it was a disaster. we could not allow ourselves to get to august 2 without having a debt ceiling increase. some of us took -- we made proposals and we took a look at what was being proposed. we said, are you kidding? a supercommittee? that's not going to do any good. they'll never be allowed to reach an agreement. some of us were told, well, of course they'll reach an agreement because if they don't, there will be these massive amounts of devastating cuts to our defense and devastating cuts to medicare. they'd never allow $300 billion or so to be cut from medicare on the other side of the capitol here. and i reminded my friends, they just cut $700 billion from medicare for obamacare. this president and the senate were pitting our seniors
well, i might remind people that the fiscal cliff was gone over in august of 2011. . some have already forgotten. we were told if we didn't have a debt ceiling increase by august 2 we were going over the financial cliff, it was financial armageddon. everything would melt down. it was all going to be just this horrible financial malay. it was a disaster. we could not allow ourselves to get to august 2 without having a debt ceiling increase. some of us took -- we made proposals and we took a look...
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from your perspective, what impact is the fiscal cliff having with regard to the situation? we've seen today a number of special dividends announced, debt finance acceleration of special dividends. what is your perspective on this and the impact on corporate leaders and boards? >> you know, i think it's quite fluid. even quite fluid with individuals. you had steve ratner on here last week. he went over right after you the next day and his predictions where consumer is strong and we're seeing a big gap between where ceos are who are much more pessimistic. as steve was arguing, they're holding back and expecting the cliff is going to come and we're going to go over the cliff and the consumer and the individual investor in some cases don't understand that. and yet i just saw yesterday on another network, steve ratner was saying, you know what? i'm hearing different things now. it looks like we may, in fact, somehow keep this from careening off the cliff. so we're seeing an awful lot of people that are unsure how to read this in the course of a day. the sentiment seems to be so
from your perspective, what impact is the fiscal cliff having with regard to the situation? we've seen today a number of special dividends announced, debt finance acceleration of special dividends. what is your perspective on this and the impact on corporate leaders and boards? >> you know, i think it's quite fluid. even quite fluid with individuals. you had steve ratner on here last week. he went over right after you the next day and his predictions where consumer is strong and we're...
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do you think the president understands what needs to be done to not only take care of the fiscal cliff but also take care of the concerns of the job creators, you know, make sure that the economy not only -- not only that we move towards a more balanced approach towards solving the debt but also that we grow the economy? did he seem to get that yesterday? >> yeah, i think without a doubt, he understood that the fiscal cliff issue was just short term in nature. it's something that needed to get moved on. but the bigger issue was still tax reform for business, making sure that businesses could be globally competitive, dealing with the immigration issues and s.t.e.m. and moving on with regulation because ultimately he did ak knowledge that it is the business community that creates jobs, and jobs are the path to growth, and growth is the path to more revenue. absolutely. >> let's go to pulitzer prize winner, jonathan capehart. jonathan, i tell you what, pieae is breaking out all over the place, howard dean admitted that we had to cut medicare. michael steele admitted we had to raise taxes.
do you think the president understands what needs to be done to not only take care of the fiscal cliff but also take care of the concerns of the job creators, you know, make sure that the economy not only -- not only that we move towards a more balanced approach towards solving the debt but also that we grow the economy? did he seem to get that yesterday? >> yeah, i think without a doubt, he understood that the fiscal cliff issue was just short term in nature. it's something that needed...
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solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs is a great way for the president to start his second term. and for the good of our country, and my colleagues, we're ready to work with the president to achieve those goals. >> mr. speaker, couple things. first, on the issue of tax rates, are you willing to accept no deal that includes some increase in those top tax rates? and i'm also wondering what our final deadline is on this? when do we really have to have a deal? >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table, but revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy. pure and simple. secondly, the american people expect us to find common ground, to work together, and to resolve this. and frankly, sooner is better than later. >> you've been doing this for a long time. the past 24
solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs is a great way for the president to start his second term. and for the good of our country, and my colleagues, we're ready to work with the president to achieve those goals. >> mr. speaker, couple things. first, on the issue of tax rates, are you willing to accept no deal that includes some increase in those top tax rates? and i'm also wondering what our final deadline is on this? when...
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to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in revenue presented by secretary treasury secretary timothy geithner and stimulus and $400 billion in medicare and other entitlement savings. a permanent increase in the debt limit. >> so, let's get more on the standoff right now. joining us senator bernie sanders of vermont. he caucuses with the democrats. senator, first of all, congratulations on your re-election. thanks for coming in. republicans say, you know what, they'll be flexible, but the democrats have to be flexible, too, especially when it comes to entitlement spending. medicare, medicaid and even reform. are you open to any of that? >> when republicans talk about being flexible, we have not heard one definitive word to what they mean. second of all, our republican friends look up and understand that this issue of the fiscal cliff was debated during the election and, you know what, mitt romney lost. obama won. the american people are very c
to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in revenue presented by secretary treasury secretary timothy geithner and stimulus and $400 billion in medicare and other entitlement savings. a permanent increase in the debt limit. >> so, let's get more on the standoff right now. joining us senator bernie sanders of vermont. he caucuses with the democrats. senator, first of all, congratulations on your re-election. thanks for...
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. >> stephanie: this is the latest time regarding the fiscal cliff negotiation. >> sound byte: they can have him on a rather short leash on a small--here's your allowance come back next month if you have behaved. >> you're proposing that the debt ceiling be increaseed month by month. monthly if he's good. weekly if he isn't. >> wow. how can you tell when they're being racist or tribalist. it's hard to tell. >> stephanie: put a leash on the president of the united states. if he's good--that's not too condescending or racist, we're vomitous. >> what authority does he have to tell the president to do anything. >> the second most powerful guy who runs the republican party after limbaugh. >> stephanie: andrew. >> caller: i want to make a comment about republicans blocking obama's progress. everybody needs to go to www. www.saundersdotsenate.gov and overturn the united petition. republicans will always block obama's progress because they want to protect their sugar daddy campaign donors from higher taxes. >> stephanie: yes. when i asked earlier who they were representing, that was it. joy in
. >> stephanie: this is the latest time regarding the fiscal cliff negotiation. >> sound byte: they can have him on a rather short leash on a small--here's your allowance come back next month if you have behaved. >> you're proposing that the debt ceiling be increaseed month by month. monthly if he's good. weekly if he isn't. >> wow. how can you tell when they're being racist or tribalist. it's hard to tell. >> stephanie: put a leash on the president of the united...
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cliff. also, don't forget to explore the history and literary culture of new york capital city of albany this weekend. book tv is on c-span2 and american history to be on c-span three. >> coming up at 7:00 c-span will be lot of discussion unskilled immigrants. virginia senator mark warner is sponsoring a bill to allow more highly skilled veterans and to the u.s. >> we have had these this the five explosions of knowledge in madison, but we have not coordinated care. all the services that we have end up having some any cracks that the cracks are as harmful as the diseases that we are treating. we have to step back and ask, you know, are we hurting people overall? and income on a global level where we doing some times? and, of course, now we have to these reports saying 30 percent of everything we do may not be necessary in after. we will be step back, 30 percent of all the medications we prescribe, the tests we order, the procedures. this is something, i think, which is for the first time real
cliff. also, don't forget to explore the history and literary culture of new york capital city of albany this weekend. book tv is on c-span2 and american history to be on c-span three. >> coming up at 7:00 c-span will be lot of discussion unskilled immigrants. virginia senator mark warner is sponsoring a bill to allow more highly skilled veterans and to the u.s. >> we have had these this the five explosions of knowledge in madison, but we have not coordinated care. all the services...
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cliff. there is still a great divide between parties. i do not see them coming together a great deal on that. host: williams mcbride and seth hanlon, thank you for being on the "washington journal." the house is coming into session right now. they will be debating the feasible. -- visa bill. the clerk: the speaker's room, washington, d.c., november 29, 2012. i hereby appoint the honorable charles j. fleischmann to act as speaker pro tempore on this day. signed, john a. boehner, speaker of the house of representatives. the speaker pro tempore: pursuant to the order of the house of january 17, 2012, the chair will now recognize members from lists submitted by the majority and minority leaders for morning hour debate. the chair will alternate recognition between the parties with each party limited to one hour and each member other than the majority and minority leaders and the minority whip limited to five minutes each, but in no event shall debate continue beyond 11:50 a.m. the chair will rece
cliff. there is still a great divide between parties. i do not see them coming together a great deal on that. host: williams mcbride and seth hanlon, thank you for being on the "washington journal." the house is coming into session right now. they will be debating the feasible. -- visa bill. the clerk: the speaker's room, washington, d.c., november 29, 2012. i hereby appoint the honorable charles j. fleischmann to act as speaker pro tempore on this day. signed, john a. boehner,...
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cliff as a three-part problem. part one taxes. in the new year, taxes go up on everyone unless washington takes action. the government needs more money. president obama wants to get some of it from the top 2% of wage earners. he wants to raise their tax rate and limit how much they can deduct. the white house says this will bring in $1.6 trillion over ten years. >> that's what the american people have voted for. >> republicans say they'll agree to bring in more money, but not by raising tax rates. in fact, they want to lower tax rates for everyone. instead they'd raise money only by limits deductions and closing loopholes. speaker boehner says this will raise $800 billion over ten years. >> america faces a serious problem. our goal is to make sure it gets solved. >> step two, avoiding the drastic spending cuts that begin on january 1st, the so-called sequester. both sides want to find savings in medicare, but disagree about how to do it. >> we need a responsible white house. we can't sit here and negotiate with our
cliff as a three-part problem. part one taxes. in the new year, taxes go up on everyone unless washington takes action. the government needs more money. president obama wants to get some of it from the top 2% of wage earners. he wants to raise their tax rate and limit how much they can deduct. the white house says this will bring in $1.6 trillion over ten years. >> that's what the american people have voted for. >> republicans say they'll agree to bring in more money, but not by...
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we have a fiscal cliff which we describe now that everybody's talking about at the end of this year, that's not the cliff. the cliff is the unsustainable debt we have. and unless, in my estimation, a lot of economists, you're not going to put us on a path to prosperity unless you take about $9 trillion out over the next ten years. and we're barely talking $4 trillion. >> yeah, nobody's talking $9 trillion. >> yeah. and $9 trillion is the only thing that actually solves this. so we're sitting here as a country, we have made commitments that have to be rearranged and made more efficient. we have a tax structure that is subpar to what we need for our economy in terms of our historical averages. and nobody's talking long run. everybody's talking december 31st. >> i know. you see john boehner's proposal, he was very critical of the president's proposaproposal, it nonstarter, but boehner comes out talking cutting $2.2 trillion. you talk about $9 trillion needed over the next ten years. look at the past four years. we've almost added $5 trillion to the national debt. over the next four year
we have a fiscal cliff which we describe now that everybody's talking about at the end of this year, that's not the cliff. the cliff is the unsustainable debt we have. and unless, in my estimation, a lot of economists, you're not going to put us on a path to prosperity unless you take about $9 trillion out over the next ten years. and we're barely talking $4 trillion. >> yeah, nobody's talking $9 trillion. >> yeah. and $9 trillion is the only thing that actually solves this. so...
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fiscal cliff let's take the plunge in the l.a. times. he said the u.s. deficit and debt will fall social security will go on unharmed and we'll go back to tax rates that were better than the current ones. what do you think? >> i certainly don't want something that will put us into a recession. that's more republican thinking. but i think ultimately pugh has a pole saying 53% of the american people will blame republicans, to which i can only imagine republicans saying oh we're finally ahead in a poll. boner is like a slug there is a bright orange trail of cheat toe dust and bronzer leading from his office. >> stephanie: okay. here you go. >> so many people are going to part-time work and being hurt. everyone i know is already seeing cutbacks, and the economy is going to be disastrous and only going to get worse under obama. >> stephanie: by the way that was dexter von frisch? >> it was. >> stephanie: he just screams at ann coulters voice? >> it's like an earthquake he just screams before it happens. >> stephanie: kids carbonite backs up everything for you
fiscal cliff let's take the plunge in the l.a. times. he said the u.s. deficit and debt will fall social security will go on unharmed and we'll go back to tax rates that were better than the current ones. what do you think? >> i certainly don't want something that will put us into a recession. that's more republican thinking. but i think ultimately pugh has a pole saying 53% of the american people will blame republicans, to which i can only imagine republicans saying oh we're finally...